Running a successful Project Management Office (PMO) may seem simple enough. After all, with a good system and an experienced team, what more could one need? But bad project management can boil down to things that seem right on the surface, but could have extremely negative repercussions in the long-run. Not knowing who is right for the job Having the right people on point positions is key. Poor resourcing decisions can snowball into project delays ...
A project manager’s office or PMO is the focus of all activities that are being carried out in an organization. A project management team has to plan, track, manage and report progress of work being carried out within an organization. Team managers and coordinators have to coordinate with their team members and project office about requirements and expectations to ensure that work is done as per client expectations and instructions are not misunderstood. An effective ...
As organizations becoming increasingly reliant on a Project Management Office (PMO), it becomes all the more important to have a clear idea of the Total Cost of Ownership or TCO. Knowing your TCO can help a business plan better. Budgeting decisions, the bottom line and even strategy have a closely linked relationship with the costs associated with a PMO. Keep it simple While communicating the TCO, the PMO must ensure that it is not chock-full ...
Managing projects is a second nature to many managers, in spite of not having a proper structure to do it. Every day is hectic with new initiatives, new software being built, tested and launched constantly. All these are projects ultimately depend upon their managers for success. The leaders who have a proper and structured project management office have an undeniable edge and advantage over the others. Listed below are the ways in which you can ...
Cargotec is a global technology company delivering load handling solutions and maintenance services. Their business areas MacGregor, Kalmar and Hiab are recognised leaders in cargo and load handling solutions. Cargotec's main branch is located in Ruoholahti, Helsinki, with sales branches in over one hundred countries with staff in 48 countries. In addition to having its main branch in Finland, Cargotec has a testing and product development centre in Tampere. The company also has product development, ...
In 2015 Project Management Offices will have to face new challenges while delivering value to their organizations. The project management office is geared towards establishment and accomplishments of goals linked to stakeholders needs. As firms move from traditional processes towards more agile operations, PMO has to play an active role in the process by making their leaders more adaptable to new technology. In today’s challenging business environment project management is a combination of hard decisions ...
Thinking Portfolio is an important tool in facilitating decision-making within Lassila & Tikanoja’s project operations. The application has also received praise for its flexibility with regards changes in procedures. For the fourth consecutive year, Lassila & Tikanoja is using Thinking Portfolio to help manage the company's project portfolio. When we started using Thinking Portfolio in a particular situation, we created a uniform internal project model containing the procedures necessary for both management and decision-making. We ...
A universal set of principles, methods and templates are built by the PMO for the purpose of managing and executing various projects. With the help of standardization, it becomes easier for managers to switch between various projects and fresh project managers can work faster as well. Developing templates for managing projects means that uniform set components can be re-utilized. This ends up saving overall costs, time and effort for the business. Major roles in a ...
As a part of a growing organization, you may be faced with handling multiple business projects at a time. To handle them efficiently, you could choose software or rely on personal expertise. Regardless of how you decide to manage your project portfolio, there are certain aspects of management that you should consider. If you have too many projects and limited personnel, time or money, you can manage your project portfolio by asking five important questions. ...
Project portfolio management (PPM) is an effective internal organization tool which articulates the nature and purpose of a project and also in determining the outcome. Here are some of the ways in which you can communicate a PPM inside your organization. Power Point Presentations This is a classic computer program that has been the pitch-factor behind millions of successful projects across the world. Its popularity is rooted in its user friendly interface and versatility across ...
A business is subject to multiple environmental risks including market, legal, operational and strategic risk as well as risk from factors like governance and hazards like terrorism, civil unrest and more. An effective Project Portfolio Management (PPM) strategy can help a business be prepared for multiple contingencies, allowing the management team to make more informed decisions. Project Portfolio Risk management can help identify some of these risks in advance to determine what the likely impediments ...
Any business must make a decision which will ultimately produce some kind of product that can be either goods or services. An important decision can affect the company, the products and its employees. Plant: The decision to invest in new factories, or in upgrading the present ones Products: The decision to start new lines People: The decision to invest in the form of development and training Most decisions are dependent upon its predictability. A distinction ...
When discussing about project management offices (PMOs), one of the most important factor is often left untouched- customer service. Outside the world of PMO, customer service is often associated with sellers who are trying to escalate their revenues by adding as many customers as possible. Their aim is to attract all kinds of prospective buyers to purchase their products and services. The fact is that PMOs should operate in a similar fashion. However, they need ...
Good portfolio management can help businesses achieve greater value making it a vital tool for success. It can help you make better decisions, execute strategy and manage change across the organization. It takes a few simple steps to adopt best practices in product portfolio management. Involve everyone PPM is an ongoing activity and not a one-off event. It is all encompassing. Good portfolio management will involve people across the organization. With the buy-in of the ...
A project management office is essential for any organization that is handling more than one active projects at the same time. It is required to ensure that the projects and their execution are done with the same guidelines to which, the organization adheres. It is also important to evaluate the project management office from time to time. This helps an enterprise keep up with the standards of the project execution. It also allows to keep ...